Colliers International Group Inc. $CIGI Position Cut by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its holdings in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 35.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,549 shares of the financial services provider’s stock after selling 78,186 shares during the quarter. CIBC Asset Management Inc owned 0.29% of Colliers International Group worth $22,112,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its stake in shares of Colliers International Group by 26.3% in the second quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 63 shares in the last quarter. Blue Trust Inc. lifted its holdings in Colliers International Group by 17.1% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 74 shares during the period. Cornerstone Investment Partners LLC grew its position in Colliers International Group by 3.6% in the 2nd quarter. Cornerstone Investment Partners LLC now owns 2,193 shares of the financial services provider’s stock valued at $286,000 after buying an additional 77 shares in the last quarter. Vista Finance LLC increased its stake in Colliers International Group by 4.1% during the 2nd quarter. Vista Finance LLC now owns 3,073 shares of the financial services provider’s stock valued at $401,000 after buying an additional 120 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Colliers International Group by 7.4% during the 2nd quarter. Marshall Wace LLP now owns 2,900 shares of the financial services provider’s stock worth $379,000 after buying an additional 200 shares in the last quarter. Institutional investors own 80.09% of the company’s stock.

Colliers International Group Stock Performance

Shares of CIGI opened at $139.85 on Monday. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 61.07 and a beta of 1.40. The company’s fifty day moving average is $144.65 and its 200-day moving average is $152.09. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.27. Colliers International Group Inc. has a 12 month low of $100.86 and a 12 month high of $171.51.

Colliers International Group Dividend Announcement

The business also recently declared a dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.15 per share. This represents a dividend yield of 20.0%. The ex-dividend date was Wednesday, December 31st. Colliers International Group’s dividend payout ratio is 13.10%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CIGI shares. Raymond James Financial increased their price objective on shares of Colliers International Group from $180.00 to $195.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Stifel Nicolaus increased their price target on Colliers International Group from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Wall Street Zen upgraded Colliers International Group from a “hold” rating to a “buy” rating in a report on Sunday. CIBC raised their target price on Colliers International Group from $175.00 to $179.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Finally, National Bankshares boosted their price target on shares of Colliers International Group from $181.00 to $185.00 in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $178.20.

About Colliers International Group

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.